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Oil Price Crash: Nigeria’s perfect storm

The oil price crash and costs of COVID-19 mean Nigeria’s economy needs external help now more than ever. Ronak Gopaldas Nigeria’s economy has been dealt a blow, first by a collapse in the oil price, and then by rising costs to fight the spread of COVID-19. One of these crises alone

Nigeria’s oil and gas exports to drop by $26.5b – IMF

Nigeria’s oil and gas exports are expected to decline by at least $26.5 billion as the novel coronavirus batters international prices and cuts fuel demand, the International Monetary Fund said late on Wednesday. Nigeria, Africa’s largest oil exporter, told the IMF in a letter requesting emergency financial assistance that the drop

Oil prices jump, Brent crude hits $70

Oil prices jumped on Friday, with Brent crude futures hitting their highest in more than two weeks as U.S. stock prices rose. Investors covered short bets ahead of a weekend in which the U.S. news programme “60 Minutes” will air an interview with Saudi Arabia’s crown prince. Brent futures rose to more

U.S. Oil Companies, the Nigerian Civil War, and the Origins of Opacity in the Nigerian Oil Industry

By Kairn A. Klieman Present-day oil producers in Africa suffer from the “oil curse” or the “natural resource curse.” Despite massive influxes of oil revenues, these nations experience stagnating economies, declining standards of living, and increasingly authoritarian and corrupt forms of government. Nigeria provides a classic example. Ranked fifth globally in